Decision Maker: Babergh Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To review updated masterplan, development appraisals and resolve next steps including potential funding approvals
It was RESOLVED: -
1.1 That Cabinet endorsed ‘in principle’ the draft masterplan scheme design layout attached as Appendix A.
1.2 That Cabinet confirmed its preference for a two-phased approach towards developing the whole site, including its preference to explore a partnership with Babergh Growth Ltd to deliver Phase 1 of the site - which would be primarily residential.
1.3 That Cabinet approved up to a maximum of £500k from the strategic priorities reserve, with all capital elements funded from the capital regeneration fund. This would be used for progressing the regeneration scheme design to RIBA 3 Stage equivalent. It would also include the development of a high-level cost plan and property and development strategies, including spatial co-ordination, as part of a full business case to be presented to Cabinet later in the year.
1.4 That the Assistant Director for Economic Development and Regeneration be delegated authority to agree heads of terms following any successful negotiations with Babergh Growth in respect of delivering Phase 1 of the site.
1.5 That Cabinet noted the summary information contained within Appendix B to this report relating to the Council’s re-submission of proposals to UK Government for Levelling Up Funding at Round 2 stage.
REASON FOR DECISION
This decision will assist the opportunity, within Sudbury, to gain much needed investment to deliver part of the Sudbury Vision Programme, with the development of the Hamilton Road Quarter.
Alternative Options Considered and Rejected:
(a) Reverse the previous decision of Cabinet. Not recommended. Cabinet at its meeting of 13 September 2018 (Report B/Ca/18/34 refers) resolved a preferred regeneration option (cinema and mixed-use development) and approved an associated development prospectus. The reason for this decision was to assist the opportunity, within Sudbury, to gain much needed investment to deliver part of the Councils Vision for Sudbury, with the development of the Hamilton Road Quarter.
(b) Repeat re-marketing of the site based on the 2018 prospectus. Not recommended. The market has consistently failed to respond to the opportunity to invest and bring forward the site, due to the site complexities including bus station needing to be relocated to on-street stops.
(c) Babergh District Council continue to de-risk the site for investment and seek to secure a development partner (retaining flexible options on the type of delivery model to be used). This work to include developing all relevant strategies for site consolidation and assembly, design masterplan and viability appraisals for delivering the required mixed-use leisure-led regeneration. Recommended option.
Any Declarations of Interests Declared: Councillor Busby declared an other registrable interest as Chairman of Babergh Growth Ltd.
Any Dispensation Granted: Councillor Busby had received dispensation from the Monitoring Officer.
Publication date: 11/07/2022
Date of decision: 08/07/2022
Decided at meeting: 08/07/2022 - Babergh Cabinet
Effective from: 20/07/2022
Accompanying Documents: